Emporia State University Foundation Gift Planning Services

A complimentary service to alumni and friends of Emporia State University

Your Story. Your Legacy. “Did you realize that even if you haven’t taken the important first step of having a will or trust drafted, you already have an estate plan, because every state has a distribution plan that takes over when someone passes away without a plan. Most people find the state-provided estate plan very unsatisfactory and contrary to their wishes. Given a choice, we all prefer to exercise a measure of control over the final disposition of our property. Wills and trusts are the means to this end.”

John W. Griffin, JD Stewardship Counseling, LLC

Be in Control: Establish a Will or Trust Mr. John Griffin provides comprehensive guidance to individuals and couples who want to establish or update estate plans that minimize gift, income, and estate taxes. Emporia State University Foundation has contracted with Mr. John Griffin of Stewardship Counseling, LLC, to provide this free service to our alumni and friends.

All information is confidential. Any legal work required is completed by an attorney of your choosing.

Services provided by: Emporia State University Foundation through Stewardship Counseling, LLC John W. Griffin, JD For more information or to schedule an appointment, contact Carol Cooper at 620-341-6463 or ccooper@emporia.edu. Appointments are limited.

Gift Planning Services—John Griffin

John describes estate planning and the gift planning services at Emporia State

Testimony—Mel Storm

Testimony—DeWayne and Sherry Backhus

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

Resources

A charitable bequest is one or two sentences in your will or living trust that leave to Emporia State University a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

I/we give to Emporia State University Foundation, Inc., 1500 Highland St., Emporia, KS 66801, the sum of $__________________; or_____% of my estate; or the property described herein:____________________________________________; for the benefit of Emporia State University.

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Emporia State or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Emporia State as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Emporia State as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Emporia State where you agree to make a gift to Emporia State and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.